Confirmed: Amarillo Toys R Us Going Out Of Business

Just 6 months after Toys R Us filed for bankruptcy and 2 months after announcing they would close 182 stores, sources are reporting that the company will close it's doors company-wide. Sources close to the matter are saying that all 800 stores in the United States will shut down or could be sold. In all, that has the potential to affect around 33,000 people including those who work right here in Amarillo. The saving grace could be if some of the stores are sold off, however there is very little information available about potential buyers.

The Washington Post is reporting that toymaker Isaac Larian has submitted a bid to purchase Toys R Us' Canadian stores as well as up to 400 stores in the United States. His plan would include keeping the stores operating under the Toys R Us brand. Larian is CEO of MGA Entertainment, which owns brands such as L.O.L. Surprise!, Little Tikes, and Bratz. "There is no toy business without Toys R Us,” Larian told the Washington Post. “It’s a big deal and I’m going to try to salvage as much of it as possible.”

Toys R Us has been a staple for over 60 years. While they had a successful holiday season, the chain has been struggling to compete with other big box stores and online shopping. This is a developing story, we will cover more information as it becomes available.